Under Armour turnover grows more than 20 %

American sports brand Under Armour has raised its third quarter turnover by 22 % to 1.47 billion dollars (1.35 billion euro), while profit grew more than 25 %.

Growth for 26 straight quarters

Under Armour’s third quarter net profit reached 128 million dollars (120 million euro), up 28 % compared to last year: last quarter was also the company’s 26 straight quarter with a turnover growth over 20 % .

The majority of Under Armour’s turnover comes from wholesale activities, but its consumer sales grew 29 % to 408 million dollars (370 million dollars), almost entirely online as the company barely has any physical stores. Under Armour is already quite strong in North America, with 85 % of its turnover generated there, but it is also investing a lot in the international markets, where turnover grew 74 % compared to the year before.

For its full fiscal year, Under Armour expects a 4.925 billion dollar (4.5 billion euro) turnover, which would be a 24 % turnover growth compared to last year.